Sold!
$1,000,000
6
Beds
4
Baths
6,055
Living Area
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Property Description
Nestled in the NB (Neighborhood Business) zone and directly on high-traffic bus routes (106, 108, 411, 430), this mixed-use asset offers seamless access to Malden Center, Sullivan Square (Orange Line), Linden, Somerville, Medford, Everett, Cambridge, and Boston. Surrounded by over 300 active businesses in a thriving commercial corridor, 385-387 Salem Street features four residential units and one commercial space—presenting immediate upside through lease-up of current vacancies. Recent upgrades include 4 new gas hot water tanks for residents and an electric hot water tank for the commercial unit. With separate utilities, ample street parking, and strategic access to Route 60, I-93, Route 1, and the Fellsway (Route 28), this property offers strong income with multiple value-add opportunities. Further due diligence may uncover additional paths for reconfiguration, subject to city permits. A compelling opportunity in a high-demand market for savvy investors. 2 Res & Comm Units vacant.
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Highlights
- Area: Faulkner
- Levels: 3
- Property Type: 5+ Family - 5+ Units Up/Down
- Total Rooms: 20
- Status: Closed
- Heating: Electric
- Property Class: Residential Income
- Stories: 3
- Year Built: 1900
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Additional Details
- Appliances: None, Range, Refrigerator
- Construction: Stone
- Flooring: Tile, Concrete, Hardwood, Carpet, Wood
- Interior Features: Pantry, Bathroom with Shower Stall, Internet Available - Unknown, Living Room, Dining Room, Kitchen
- Road Frontage Type: Public
- SqFt Source: Public Record
- Year Built Details: Approximate
- Zoning: Nb
- Basement: Walk-Out Access, Concrete, Unfinished
- Exterior Features: Balcony
- Foundation: Brick/Mortar
- Lot Features: Corner Lot
- Roof: Tar/Gravel
- Total Number of Units: 5
- Year Built Source: Public Records
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Amenities
- Community Features: Public Transportation, Shopping, Highway Access, Public School, T-Station, Sidewalks
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Utilities
- Electric: 100 Amp Service
- Water Source: Public
- Sewer: Public Sewer
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Fees / Taxes
- Assessed Value: $1,054,000
- Tax Year: 2024
- Total Rent: $3,600
- Rental Fee Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water), Unit 4(Water)
- Taxes: $14,854
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Content © 2026 MLS Property Information Network, Inc. The information in this listing was gathered from third party resources including the seller and public records.
Listing information provided courtesy of CRG Commercial.
MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.
